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FOREX PRO Weekly July 02-06, 2012

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, Jun 30, 2012.

  1. D.R.&Quinch

    D.R.&Quinch Sergeant

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    im with u minimix, short @1.25879
     
  2. minimax

    minimax Sergeant Major

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    OK, not exactly out of screen, target maximus 1,2430

    ps
    but we did low with some kind of impulse so upside could be open
     
  3. Triantus Shango

    Triantus Shango Sergeant Major

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    EUR/USD sentiment

    guys, look what i found at Flows - Foreign Exchange - EUR/USD | 4CAST


    EUR/USD is still clawing away at the bids in 1.2550-60 area - thought to be a Middle East sovereign for the large part - but there seems to be limited momentum today, which does not come as a major surprise given US holiday tomorrow, and half day US finish today. However, looking ahead into the week, we feel the pair is looking to the downside again, as it has been pointed out by a number of people, that Friday's recovery was 'engineered' in an overly short EUR market and in extremely thin market conditions, and yet could still not generate enough momentum to reach 1.2700. The downside will still be littered with stubborn bids by the usual mix of Far East, Middle East and European accounts, and as such, EUR put spreads remain the more popular way to position for losses here.
     
  4. Triantus Shango

    Triantus Shango Sergeant Major

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    guys, one more thing of interest: '
    “We note that USD/JPY was largely unaffected by the EU summit outcome last week which suggests it is still being subject to safe haven flows. This suggests that there is still a potential for further downside”, wrote MIG Bank analysts
    Bijoy Kar and Ron William.'

    Source: USD/JPY approaching 80.00
     
  5. seedof

    seedof Corporal

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    please commander Sive or any other person who's knowledgeable about this, what is the likely effect of the US holiday on market tomorrow
     
  6. Damian1987

    Damian1987 Corporal

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    My own experience tells me that it doesn't really matter. Of course it impacts the markets , some usual players are not playing the game, but still you can find good intraday opportunities (if the market is willing to show them).
    EU session should be playable and US session might be a little bit quiet than normal
    If you are trading the futures market keep in mind that the intraday session will finish earlier, triggering overnight margins around 1PM NYtime I think.
    I've traded almost every day of the year, or at least watched the markets every day of the year. Thanksgiving, july 4th, dec 25th, etc and it has never stopped (lol). Jokes aside I wouldn't consider thinking: holiday = consolidation....I rather think holiday = less volume or a better one... holiday = not working.
    Usually summer time comes with thin markets, that's what they say...but I'll encourage you to do the same homework I did when I had this question. Check out past intraday action of a given market for important holiday dates..and you will see they show normal price action. Same could be done for daily action and northern hemisphere summer holidays.
    Tomorrow if God wants I will wake up and patiently wait for my edge to be present as I do every day, if market is quiet..I just study something related to trading, maybe I'll finish the day earlier..but that's all.
     
  7. Olaadelesi

    Olaadelesi Recruit

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    :confused:I am bearish on a weekly one hr chart, based on your analysis of retracement Im confused, what can I do. Many thanks, God bless.
     
  8. D.R.&Quinch

    D.R.&Quinch Sergeant

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    can you give us more info/ more detail to your question dude
     
  9. seedof

    seedof Corporal

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    thanks Damian
    yeah i know market would still be active what i'm just considering is holiday is like economic activities having a slight pause if i'm not wrong.meaning it may not be too good taking side with USD. does someone think i'm right
     
  10. Triantus Shango

    Triantus Shango Sergeant Major

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    just concentrate on the asian and european sessions and watch the market without bias (if possible ;-)). find the patterns. if no patterns, no trade. don't sit down at the computer with a preconceived idea of 'today i'll side with USD or EURO or whatever'. look first at what the charts tell you. then decide which side to take. as a matter of fact, the charts might tell you to side with the EURO for a quick long. and 5 mins later tell you to side with USD for a quick short (against the EURO, of course). hope my point is clear.
    cheers and good luck.


     

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